Stifel Independent Recruits $673 Million In Utah, Florida And New Jersey

James Miller, Contributing Editor & Research Analyst, Wealth Solutions Report

New Recruiting Establishes Flagship Offices In Three New States, Raises AUM To Over $6.5 Billion

Stifel Financial announced that its subsidiary, independent channel broker-dealer Stifel Independent Advisors, recruited three firms in the second quarter of this year with a total of $673 million in assets under management (AUM): ARC Wealth Management from Salt Lake City, Utah; BT Legacy Wealth Management from St. Petersburg, Florida; and Client First Financial from Colts Neck, New Jersey.

Each of the three recruits will be a flagship office of Stifel Independent Advisors, and the first in their respective states. Their combined assets will raise the firm’s total AUM to over $6.5 billion.

Alex David, President & CEO, Stifel Independent Advisors

“This is an exciting time for the industry, and for elite independent wealth management teams looking to partner with an independent broker-dealer that offers the resources of a globally recognized investment bank,” said Alex David, President and CEO of Stifel Independent Advisors. “As members of a network of advisors located across the United States, our newest teams will soon find they’ll be setting themselves apart with exceptional support that begins with comprehensive guidance.”

Richard Romano, Managing Partner & Senior Financial Advisor, ARC Wealth Management

ARC Wealth Management, with $352 million in AUM, has three financial advisors, including Managing Partner and Senior Financial Advisor Richard Romano, with 27 years of experience, Partner and Financial Advisor Brian Collard and Partner and Financial Advisor Amanda Arcilesi Simmons.

BT Legacy Wealth Management, with $189 million in AUM, is led by its owner and Managing Director Jamie Tomlin. It offers investment planning strategies and personalized wealth management.

Jamie Tomlin, Managing Director, BT Legacy Wealth Management

Client First Financial, with $132 million in AUM, has two financial advisors: Managing Director of Investments John Lupi, and Regina Singer.

John Lupi, Managing Director of Investments, Client First Financial

David concluded, “The teams joining Stifel Independent Advisors are geographically diverse, but from coast to coast they share the same focus on putting clients first, meeting and exceeding clients’ needs, and providing superior service that strengthens the Stifel brand. I am deeply thankful to be in partnership with these industry-leading practitioners and look forward to elevating their mission with exceptional service that helps grow their business.”

In July, Stifel Financial’s employee channel broker-dealer, Stifel, Nicolaus & Company, ranked first in the employee advisor segment of the J.D. Power 2023 U.S. Financial Advisor Satisfaction Study. In 2022, Stifel Independent Advisors onboarded 23 advisors with over $2.53 billion in assets.

James Miller, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at ContributingEd@wealthsolutionsreport.com.

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